Diamondback Energy (NASDAQ:FANG) Price Target Raised to $208.00 at Wells Fargo & Company

Diamondback Energy (NASDAQ:FANG) had its target price lifted by Wells Fargo & Company from $207.00 to $208.00 in a research note published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and natural gas company’s stock.

FANG has been the topic of several other research reports. Scotiabank lowered their price objective on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Barclays lowered their price objective on shares of Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Mizuho lowered their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Bank of America raised their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Finally, Susquehanna lowered their price objective on shares of Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $193.13.

Diamondback Energy Trading Down 2.5%

NASDAQ:FANG opened at $151.03 on Monday. Diamondback Energy has a 12 month low of $114.00 and a 12 month high of $214.50. The firm has a market cap of $44.13 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 1.24 and a beta of 1.06. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $137.63 and its 200-day moving average is $152.15.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.87. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.50 earnings per share. Equities analysts anticipate that Diamondback Energy will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a $1.00 dividend. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.65%. Diamondback Energy’s dividend payout ratio is 24.46%.

Insider Buying and Selling

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the sale, the president now directly owns 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by company insiders.

Institutional Trading of Diamondback Energy

Large investors have recently bought and sold shares of the business. Barden Capital Management Inc. grew its holdings in shares of Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after acquiring an additional 64 shares during the period. Private Trust Co. NA grew its holdings in shares of Diamondback Energy by 4.8% in the 4th quarter. Private Trust Co. NA now owns 1,516 shares of the oil and natural gas company’s stock worth $248,000 after acquiring an additional 69 shares during the period. Investor s Fiduciary Advisor Network LLC grew its holdings in shares of Diamondback Energy by 2.1% in the 1st quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company’s stock worth $569,000 after acquiring an additional 74 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in shares of Diamondback Energy by 5.6% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock worth $226,000 after acquiring an additional 75 shares during the period. Finally, FourThought Financial Partners LLC grew its holdings in shares of Diamondback Energy by 2.9% in the 1st quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock worth $444,000 after acquiring an additional 78 shares during the period. 90.01% of the stock is owned by institutional investors.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.